State of Wyoming Invests $723,000 in SM Energy Company $SM

State of Wyoming purchased a new position in SM Energy Company (NYSE:SM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,704 shares of the energy company’s stock, valued at approximately $723,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada increased its holdings in SM Energy by 27.7% in the 1st quarter. Royal Bank of Canada now owns 91,916 shares of the energy company’s stock valued at $2,753,000 after buying an additional 19,965 shares during the period. AQR Capital Management LLC raised its position in shares of SM Energy by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 145,922 shares of the energy company’s stock valued at $4,370,000 after buying an additional 44,542 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of SM Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,111 shares of the energy company’s stock worth $2,040,000 after acquiring an additional 2,969 shares during the period. NewEdge Advisors LLC boosted its position in shares of SM Energy by 44.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,248 shares of the energy company’s stock worth $97,000 after acquiring an additional 1,007 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of SM Energy during the 1st quarter worth approximately $222,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

Insider Buying and Selling at SM Energy

In other news, Director Ramiro G. Peru sold 24,553 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $33.98, for a total value of $834,310.94. Following the completion of the transaction, the director owned 65,964 shares of the company’s stock, valued at $2,241,456.72. This represents a 27.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.45% of the company’s stock.

SM Energy Stock Down 0.1%

Shares of NYSE:SM opened at $33.70 on Monday. SM Energy Company has a 52-week low of $17.45 and a 52-week high of $35.88. The company has a market capitalization of $8.02 billion, a PE ratio of 6.63 and a beta of 0.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62. The company has a fifty day moving average of $29.72 and a 200-day moving average of $28.26.

SM Energy (NYSE:SM) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.23. SM Energy had a return on equity of 17.93% and a net margin of 18.20%.The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $1.50 EPS. SM Energy’s revenue for the quarter was up 215.3% on a year-over-year basis. On average, equities analysts predict that SM Energy Company will post 7.1 EPS for the current fiscal year.

SM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, June 8th. SM Energy’s payout ratio is 17.32%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of SM Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Stephens lowered their price target on SM Energy from $61.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Mizuho raised SM Energy to a “strong-buy” rating in a report on Friday, July 31st. Wells Fargo & Company upgraded SM Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $47.00 in a research report on Thursday. Finally, Truist Financial raised their price objective on SM Energy from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

SM Energy Company Profile

SM Energy Company (NYSE: SM) is an independent energy firm engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids in the United States. The company focuses on identifying and exploiting unconventional onshore basins, leveraging advanced drilling and completion techniques to optimize resource recovery. SM Energy’s operations are supported by an integrated approach to reservoir management and strategic midstream partnerships, enabling efficient transportation and marketing of hydrocarbons.

The company’s core asset areas include prolific basins such as the Permian, Eagle Ford, and the Rocky Mountain region.